The US dollar suffered major losses yesterday facing it's rival Japanese yen as the race for oval office between Trump and Clinton strengthened in the last hours. USD/JPY opened yesterday at 105.15, sank to 101.19 low, then rallied to 105.88 as trump was declared victorious. Trump made a speech with strong tone, sending massages between the lines as he promised to take the US economy into a better-stronger state erasing all the doubts and questions marks about his previous aroused signals.
The greenback took over the yen today's early trading sessions sending the USD/JPY to a higher price at 105.95 today, and US dollar index peeking to 98.50 after dropping to 95.91 yesterday. Right now, the pair is trading at 105.40 intraday with SMA 50 (104.13) , SMA 100 (106.93).
Daily Pp: 104.24
Trend: Bullish
First resistance : R1 106.07, R2 106.76, R3 107.48
First support: S1 104.38, S2 103.71, S3 103.15
Remark: Preferable trend is bullish with price range between R1 and S1 but look for more action on US unemployment claims data scheduled for release at 1:30 GMT today.
Note: This analysis is intended to provide general information and does not constitute the provision of INVESTMENT ADVICE. Investors should, before acting on this information, consider the appropriateness of this information having regard to their personal objectives, financial situation or needs. We recommend investors obtain investment advice specific to their situation before making any financial investment decision.